ADDISON, TEXAS — Behringer is relocating its corporate headquarters to Tollway Center, a 200,000-square-foot, six-story office building in Addison. The investment management firm, currently headquartered at One Addison Circle, has executed a 10-year lease for a new principal place of business located at 14300 Dallas Pkwy. The company expects the move to be completed by the third quarter of 2016. Jeff Staubach and Torrey Littlejohn of JLL represented Behringer, while JLL’s Jubal Smith and Matt Samler negotiated business and economic incentives. Tollway Center, which Cawley Partners is developing, will feature an open-air rooftop terrace, fitness center and indoor cafe. The project began in June 2014 when Cawley Partners identified six acres of land between Belt Line and Spring Valley Road on the west side of the Dallas North Tollway.
FORT LAUDERDALE, FLA. — NXT Capital has provided a $37.9 million first mortgage loan to refinance Crown Center Offices, a five-building, 350,000-square-foot office campus in Fort Lauderdale. The property is located within a mile of I-95 and three miles from the Florida Turnpike. Paul Ahmed of Walker & Dunlop arranged the loan through NXT Capital on behalf of the undisclosed borrower.
NEW YORK CITY — WeWork has signed a 19-year lease for 180,000 square feet of office space at 1460 Broadway in Times Square. The company will occupy the entire 16-story building except for the second and third floors, which will be converted into a multi-level retail space. WeWork, a provider of shared workspace, community and services for entrepreneurs, freelancers, startups and small businesses, will take occupancy of the property later this year. The property is jointly owned by Himmel + Meringoff and The Swig Company. Additional terms of the lease were not released.
HOUSTON – CBRE has arranged the sale of 1000 Main, a Class A office tower located in the Houston Central Business District. The 36-story office tower includes 836,015 rentable square feet. Union Investment Real Estate purchased the asset, built in 2003, from Invesco Real Estate for an undisclosed price. Metzler Real Estate advised Union Investment, a European asset manager, in the transaction. CBRE’s Russell Ingrum, Bernard Branca and Jared Chua represented the seller. The property was awarded LEED Gold Certification from the U.S. Green Building Council in 2013. Gensler & Associates and Century Development Corp. designed and built the property.
DALLAS — Colvill Office Properties has arranged a 35,053-square-foot office lease renewal on behalf of Hines REIT to Greenberg Traurig at Chase Tower, a 1.3 million-square-foot, Class A tower in downtown Dallas. Blaine Hale and Cameron Colvill of Colvill Office Properties represented Hines in the lease negotiations. Phil Puckett, Jeff Ellerman and Harlan Davis of CBRE represented the tenant. Located at 2200 Ross Ave., Chase Tower is undergoing a capital improvement campaign, which will include the addition of a new fitness center, new executive lounge and boardroom, new main entry and sky lobby and updates to the parking garage.
ARLINGTON HEIGHTS, ILL. — Reed Construction has completed a 35,500-square-foot renovation for SVM at 3727 Ventura Drive in Arlington Heights. Founded in 1997, SVM handles the sales, marketing and distribution of gift cards for most major gasoline companies. The firm relocated its headquarters to Arlington Heights from 200 E. Howard Avenue in Des Plaines, Ill. The project included an interior demolition, the addition of office space and a new secure vault. The finished office features high bay ceilings in the common areas, new interior glazing and updated locker rooms. A steel mezzanine conference room suspends from existing crane rails, which overlooks the open floor plan. Bryan Krueger was the principal and Dan Cohen was the project manager for Reed Construction. Wefing Deegan Studios provided the architectural services.
FORT MILL, S.C. — DTZ has brokered the $39.5 million sale of three Class A office buildings in Fort Mill, a suburb of Charlotte. The three office assets are located in Kingsley Park, a corporate office campus. Rob Cochran and Jared Londry of DTZ represented the seller, a joint venture partnership between Childress Klein and The Springs Co. Omaha-based Waitt Co. purchased the buildings for $222 per square foot. Kingsley Park is Waitt Co.’s first real estate investment in the Carolinas.
JACKSONVILLE, FLA. — Crocker Partners has launched an $8 million renovation of the 752,000-square-foot Prominence office park at Baymeadows Road and I-95 in Jacksonville. The capital improvement program will include a new main park entry with monument signage and landscaping, as well as exterior and common area renovations. Crocker Partners has also signed NGA Human Resources to a 70,000-square-foot lease in Building 400 of Prominence. The two-and-a-half floor office space for NGA will house roughly 450 employees. Jesse Shimp of JLL represented Crocker Partners in the lease transaction. Kaycee Gardner of JLL represented NGA Human Resources, a provider of payroll and HR services and software. The Jacksonville office park will serve as NGA’s North American headquarters.
NEW YORK CITY — Triangle Equities has completed the development of a nine-story mixed-use building located at 42-05 Parsons Blvd. in the Flushing neighborhood of Queens. The 28,546-square-foot condominium building features 14 residential units and five office units. The lower level of the building is being offered as a community facility space, totaling 6,755 square feet in five separate units. The space features 13-foot ceilings, a separate elevator and staircase and a private entryway. The top floors offer 14 two-bedroom/bathroom condos and two three-bedroom/bathroom penthouses on the top two floors. Ranging in price from $550,000 to more than $1 million, the residential condos feature hardwood floors, private balconies/terraces, walk-in closets, stacked washer/dryers and a video intercom entry system. Block & Lot Real Estate & Management is representing the ownership in all residential sales, while Cushman & Wakefield is handling the sale of the community facility space.
CAMBRIDGE, MASS. — Biogen has signed a 10-year lease for 80,000 square feet of Class A laboratory and office space at BioMed Realty Trust Inc.’s 301 Binney St. property in Cambridge. Biogen — which develops, markets and manufactures therapies for neurological, autoimmune and hematological disorders — plans to use the space to expand its drug discovery efforts. This lease brings BioMed Realty’s property to 100 percent leased.